Levin Furniture buys a living room set with a $4,000 list price and a 55% trade discount.Freight (FOB shipping point) of $50 is not part of the list price. What is the delivered price(including...

Levin Furniture buys a living room set with a $4,000 list price and a 55% trade discount.Freight (FOB shipping point) of $50 is not part of the list price. What is the delivered price(including freight) of the living room set, assuming a cash discount of 2/10, n/30, ROG? Theinvoice had an April 8 date. Levin received the goods on April 19 and paid the invoice on April25.Ans:List price = $4000Trade Discount = 55%Net Price = $4000*(1-.55) =$1800As Levin paid the invoice within 10 days of ROG, hence he will get 2% discount.So net invoice amount = $1800*(1-.02) =$1764Freight amount = $50Delivered price = $50 + $1764 = $181430. Royal Furniture bought a sofa for $800. The sofa had a $1,400 list price. What was the tradediscount rate Royal received? Round to the nearest hundredth percent.